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The Canadian Press – 23 March 2020
A traveler checks flight information on screens at Toronto Pearson International Airport (YYZ) in Toronto, Ontario, Canada, on Monday, March 16, 2020. Air Canada fell as much as 38%, its biggest one-day drop since going public, after Prime Minister Justin Trudeau said the country would close its borders to all foreign travelers except Americans. Photographer: Cole Burston/Bloomberg , Bloomberg
OTTAWA – Canadian airports are confronting the prospect of $2 billion in losses over the next few months as borders shut and planes stay parked due to the COVID-19 pandemic.
The Canadian Airports Council, which represents 53 airports, forecasts that passenger traffic will fall by between 55 per cent and 71 per cent between March and June, or up to 37 million travellers.
The predicted revenue hit of between $1.8 billion and $2.2 billion would mark a 50 per cent year-over-year decline, and overshadows already grave estimates of a $1.3-billion loss less than one week ago.
Trade group chairwoman Joyce Carter says the situation is “catastrophic,” with many parts of the aviation sector confronting a possible shutdown unless federal relief arrives.
Carter sent a letter to Prime Minister Justin Trudeau over the weekend requesting short-term aid in the form of rent relief and cash injections as well as long-term support via infrastructure funding and tourism promotion.
Airports garner much of their cash from landing and terminal fees as well as a per-passenger charge – all of which remain up in the air due to the global travel collapse triggered by the novel coronavirus.